EU Bank Stocks Take a Nosedive

The financial markets worldwide faced a severe downturn on Monday, with Europe's banking sector experiencing significant losses. The trigger? The latest round of US tariffs, which have sparked fears of a prolonged economic slowdown.

Market Figures Tell the Story

By 9:28 am CET, the Euro Stoxx Banks Index (SX7E) had fallen by 4.68% to €156.89, while the broader STOXX Europe 600 Banks Index saw a sharper decline of 5.29% to €214.67.

Major Banks Hit Hard

Leading the pack of decliners were Commerzbank and Societe Generale, with drops of 11% and 10% respectively. Not far behind, Barclays slid by 9%, with Deutsche Bank, Banco Santander, ING Groep, and BBVA also witnessing significant losses. HSBC wasn't spared either, falling by 6% as investors grappled with the escalating trade tensions.